📉【L2 leader Base encountered a short-term liquidity pullback last week! The TVL scale is huge, but it is hard to withstand the pressure from the macro "three mountains"!】

💥 Core Data Observation (L2BEAT):

Base TVL scale: Up to $12.25 billion! ( this confirms its market position as an L2 leader and the strong trust of Coinbase's endorsement. )

7-day decline: Reached -7.44%. (This shows that there has been a significant outflow of funds and a demand for safety in the past week.)

[Core Interpretation and Market Impact]

The concretization of macro fear: The decline in Base TVL is not an issue with the project itself, but a direct reflection of the current macro pressures in the crypto market. In the channel of accelerated decline of BTC/ETH, users are moving funds from L2 back to exchanges or stablecoins, which is a standard "hedging operation."

Difficult to withstand the "three mountains": Even projects like Base, which have a massive scale of $12.25 billion and a strong background, cannot completely resist the short-term selling pressure brought by the "three mountains" of hawkish macro, liquidity exhaustion, and technical weakness. The fundamentals remain solid: Although there is a short-term decline, the $12.25 billion TVL scale is extremely strong.

Fundamental signals. This indicates that the infrastructure of Base has been completed, and the current pullback is merely a cyclical liquidity outflow from the market, rather than a structural collapse.

🔥 Summary: This data once again confirms our view: short-term prices are dominated by macro factors and liquidity. During the "bottoming cycle", even the best assets will experience painful pullbacks. This provides us with patience and basis for strategically building positions in core infrastructure after a thorough bottom.
#L2